Multifamily: A Nut Hard to Crack
Tung Huynh, NEEP’s Public Policy Intern
Multifamily housing represents an important sector with large untapped energy savings potential. Cost-effective energy efficiency upgrades can reduce energy use by 15-30% in buildings with five or more residential units, translating to almost $3.4 billion in annual utility bill savings for the multifamily sector nationwide. Improving energy efficiency in the multifamily market also contributes to greater local housing affordability and the “green” job market for energy efficiency retrofits. Despite these potential benefits, energy efficiency in the multifamily sector still faces significant policy and market barriers due to the complex landscape of the multifamily world.
The world of multi-family efficiency is reaching a turning point in its evolution. The multi-family sector promises substantial potential energy savings that have not yet been adequately addressed due, in part, to a number of market barriers impeding progress.
NEEP partnered with Efficiency Maine Trust (EMT) last summer to collaborate on a comprehensive multi-family efficiency project. NEEP works in an advisory capacity to Efficiency Maine in order to increase the visibility and momentum of multi-family retrofits in the Northeast and Mid-Atlantic regions through research, analysis, and project advisory efforts.
NEEP’s multi-family-team recently attended the Regional Multi-family Quarterly Progress Update in Maine this past week. The progress of the multi-family energy efficiency project to date, along with its associated implications regarding the program’s momentum and outreach efforts are exciting to say the least.